Factors influencing the choice of social security early retirement benefits

The present research focuses directly on the choice of early retirement Social Security benefits in 1973 for men who responded to the National Retirement History Survey. This focus is more appropriate than examining early retirement more generally when the issue is solvency of the Social Security system and appropriate changes in benefits and eligibility. While this study confirms the important role of private pensions, it tests an important concept of availability of suitable work. This factor, which proved to be a significant predictor of early beneficiary status for both blacks and whites, is critical to assumptions concerning the effect of possible changes in the age of eligibility for Social Security Early Retirement benefits. The data are also used to estimate a dramatic increase in poverty among early benficiaries and their families if these benefits were removed from their current income.This research was supported by a grant from the AARP Andrus Foundation